Tesla (NASDAQ:TSLA) Raised to “Buy” at Bank of America

Bank of America upgraded shares of Tesla (NASDAQ:TSLA) from a neutral rating to a buy rating in a research report report published on Wednesday, MarketBeat reports. Bank of America currently has $220.00 price objective on the electric vehicle producer’s stock.

Other equities research analysts have also issued reports about the stock. Guggenheim restated a sell rating and issued a $122.00 price objective on shares of Tesla in a report on Tuesday. Daiwa Capital Markets lowered shares of Tesla from an outperform rating to a neutral rating and lowered their price objective for the stock from $245.00 to $195.00 in a report on Tuesday, February 6th. Wedbush restated an outperform rating and issued a $300.00 price objective on shares of Tesla in a report on Friday, April 19th. HSBC lowered their price objective on shares of Tesla from $143.00 to $138.00 and set a reduce rating for the company in a report on Wednesday, April 3rd. Finally, TD Cowen lowered their price target on shares of Tesla from $200.00 to $180.00 and set a market perform rating for the company in a report on Thursday, January 25th. Eight investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of $186.70.

Tesla Trading Down 1.1 %

TSLA stock opened at $168.29 on Wednesday. The company has a market capitalization of $535.97 billion, a PE ratio of 42.93, a price-to-earnings-growth ratio of 4.28 and a beta of 2.39. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.25 and a current ratio of 1.72. Tesla has a one year low of $138.80 and a one year high of $299.29. The company’s 50 day moving average price is $175.04 and its two-hundred day moving average price is $208.00.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The business had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The company’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.07 earnings per share. As a group, analysts predict that Tesla will post 1.97 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares in the company, valued at $5,502,726. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock valued at $38,802,534 in the last three months. 25.10% of the stock is currently owned by company insiders.

Institutional Trading of Tesla

Institutional investors have recently bought and sold shares of the company. Mount Vernon Associates Inc. MD grew its position in Tesla by 5.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock valued at $1,724,000 after purchasing an additional 350 shares during the last quarter. Oak Ridge Investments LLC grew its position in Tesla by 4.6% during the 3rd quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock valued at $8,065,000 after purchasing an additional 1,405 shares during the last quarter. Corient Private Wealth LLC grew its position in Tesla by 3.7% during the 3rd quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock valued at $182,352,000 after purchasing an additional 25,943 shares during the last quarter. J.W. Cole Advisors Inc. grew its position in Tesla by 16.6% during the 4th quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock valued at $11,533,000 after purchasing an additional 6,615 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in Tesla by 11.8% during the 4th quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer’s stock valued at $193,935,000 after purchasing an additional 81,729 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.